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| Author: | Chakrabarti, A. |
| Title: | Asymmetric adjustment costs in simple general equilibrium models |
| Journal: | European Economic Review
2004 : FEB, VOL. 48:1, p. 63-73 |
| Index terms: | Equilibrium analysis International trade Costs Prices Theories Models |
| Language: | eng |
| Abstract: | This paper demonstrates that the introduction of asymmetric adjustment costs in a simple general equilibrium framework establishes a meaningful link btw. factor price determination and output determination, breaking the analytically convenient dichotomy of the Heckscher–Ohlin–Samuelson model. The possibility of trade btw. seemingly similar countries that differ in their adjustment technologies is visited. |
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